Neuronetics (NASDAQ:STIM) Receives Market Outperform Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of Neuronetics (NASDAQ:STIM – Get Rating) in a report published on Wednesday, Benzinga reports. JMP Securities currently has a $12.00 price target on the stock.

Separately, Canaccord Genuity Group lifted their target price on shares of Neuronetics from $9.00 to $10.00 in a report on Wednesday, November 9th.

Neuronetics Trading Down 10.9 %

Shares of STIM opened at $3.75 on Wednesday. The company has a current ratio of 4.02, a quick ratio of 3.68 and a debt-to-equity ratio of 0.43. The company’s fifty day moving average is $5.94 and its two-hundred day moving average is $4.81. Neuronetics has a fifty-two week low of $1.98 and a fifty-two week high of $6.95.

Insider Transactions at Neuronetics

In other news, CFO Stephen Furlong sold 12,403 shares of the business’s stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $5.58, for a total value of $69,208.74. Following the completion of the sale, the chief financial officer now owns 455,282 shares of the company’s stock, valued at approximately $2,540,473.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Stephen Furlong sold 12,403 shares of the business’s stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $5.58, for a total value of $69,208.74. Following the completion of the sale, the chief financial officer now owns 455,282 shares of the company’s stock, valued at approximately $2,540,473.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Cannell Capital Llc sold 4,896 shares of the business’s stock in a transaction dated Friday, January 13th. The shares were sold at an average price of $6.30, for a total transaction of $30,844.80. Following the sale, the insider now directly owns 2,942,241 shares of the company’s stock, valued at approximately $18,536,118.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 321,565 shares of company stock valued at $2,030,196. Insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of Neuronetics in the 2nd quarter worth approximately $35,000. PDT Partners LLC acquired a new stake in Neuronetics during the third quarter valued at approximately $38,000. Baker Tilly Wealth Management LLC acquired a new stake in Neuronetics during the third quarter valued at approximately $40,000. CWM LLC acquired a new stake in Neuronetics during the third quarter valued at approximately $41,000. Finally, Prudential Financial Inc. acquired a new stake in Neuronetics during the third quarter valued at approximately $45,000. 62.90% of the stock is owned by institutional investors and hedge funds.

Neuronetics Company Profile

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Neuronetics, Inc commercial stage medical technology company, which engages in the designing, developing and marketing products for the patients suffering from psychiatric disorders. It operates through United States and International geographical segments. The firm offers NeuroStar TMS, a therapy system for the treatment of major depressive disorders in adult patients.